Blockchain Startup Mattereum Takes Home $9 Million Violin

Fancy part of a Picasso painting? Want to play a Stradivarius violin or spend the night in an Italian palace?

According to Mattereum, these dreams might not be so far-fetched.

The London-based startup hopes to revolutionise property rights by tokenizing the real world — starting with a centuries-old instrument.

Mattereum plans to buy a Stradivarius violin for millions of dollars, and will sell tiny shares of ownership to the public. If effective, this system will expand to real estate, art and almost any physical object.

It’s pat of a larger campaign to unite the worlds of blockchain contracts and legal contracts, and all the grey areas and jurisdiction issues in-between.

“Smart property is now a reality,” says Mattereum’s white paper. “Finally blockchains can support the legal operations which realize their transformative potential.”

A System for Everyone

Far from luxury items or antique instruments, the Mattereum Protocol will help farmers and labourers in developing economies rise up from poverty.

It’s not as flashy but equally, if not more, important.

“[Securing] transactions using collateralized assets (e.g. vehicles, machines, cows) [will allow] small businesses in developing economies to have the same, easy access to growth capital currently enjoyed only by their much larger, land-owning competitors.”

“Strong, clear, enforceable property rights for land are huge facilitators of economic development.”

Making the technology available to developing nations is an important part of Mattereum’s mission. With CEO Vinay Gupta’s strong activism for poverty reduction, this comes as no surprise.

yes: passive ownership of property is murder. if you aren't using it, it isn't yours.

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